Nebulas enters the cross-chain DeFi space!
For the past few months, the Nebulas team has been developing two new products to directly compete with existing DeFi projects and today we are happy to announce the launch of Link.nextDAO and Swap.nextDAO!
Cross-Chain assets via Link.nextDAO
For too long each blockchain has been limited to its own network resulting in high transaction fees, slow speeds and limiting growth of the global blockchain ecosystem. To combat this issue, Nebulas has developed link.nextDAO which will allow for Ethereum users to utilize Nebulas’ high performance, low latency and low fee blockchain network.
As a result, ETH and ERC20 holders can hold their assets on Nebulas and participate in DeFi with the above mentioned benefits. In addition, this will allow NAS holders to move their assets to Ethereum and participate in the wealth of existing DeFi tools such as Uniswap, balancer.exchange and much more!
To kickstart this ecosystem, link.nextDAO will waive all cross-chain fees for users (besides gas/tx fees)!
Tokens to be initially supported via link.nextDAO:
- USDT (Ethereum) to nUSDT (Nebulas)
Coming soon after release:
- NAS (Mainnet Nebulas) to eNAS (NAS on Ethereum)
- ETH (Ethereum) to nETH (ETH on Nebulas)
In addition, the community can submit proposals for additional assets to be supported via go.nebulas.io and the governance committee will vote on the proposals.
Safety for your cross-chain assets:
The source code for link.nextDAO have been thoroughly tested, audited by the security firm Knownsec and publicly released for community oversight.
- Github repo: github.com/nebulasio/link-contract
- Audit report: github.com/nebulasio/link-contract/blob/ef7d64b307080cd07794bd74dfe115c5f6f29971/Nebulasio-link-contract-knownsec.pdf
Start today at link.nextdao.io.
Decentralized asset exchange via Swap.nextDAO
In 2020, the blockchain community rapidly moved away from centralized exchanges in favor of Smart Contract, blockchain based decentralized exchanges. With this rapid growth, the blockchain community declared its independence and to support this vision, Nebulas developed swap.nextDAO from the ground up (no code fork like many projects) with its own unique features!
- Exchange: Nebulas blockchain Flash Swap
- Send/Transfer: Allows users to swap and send assets in a single transaction to a separate address than the swapping address.
- Liquidity Pool: Allows users to add and remove liquidity to trading pairs at any time as well as earn incentives.
Earn incentives by providing liquidity:
Nebulas’ decentralized exchange utilizes asset liquidity from the community and participants will receive NAS incentives with the incentives coming from two Nebulas Foundation PoD consensus nodes approved via the Governance Committee. Further details can be found at https://go.nebulas.io/proposal/564.
Tokens/pools to be initially supported via swap.nextDAO:
Initially, swap.nextDAO will support the following pairs with more to be added in the future.
Pools (incentive multiplier):
- nUSDT/NAS (1x incentive)
- nUSDT/NAX (2x incentive)
- NAX/NAS (3x incentive)
Collected Fee usage:
In addition to incentivizing liquidity pool providers, a portion of collected swap fees will be used for the repurchase and destruction of the NAX; additional details to be determined at a later date. For more details about this program, visit https://go.nebulas.io/proposal/548.
Safe and secure asset conversion:
The smart contracts for swap.nextDAO have been thoroughly tested, audited by the security firm Knownsec and publicly released for community oversight.
- Github repo: github.com/nebulasio/swap-contract
- Audit report: github.com/nebulasio/swap-contract/blob/923659e7b431b8a36ca096fb2837ac86d499bc47/Nebulasio-swap-contract-knownsec.pdf
Start today at swap.nextdao.io.
The future of Nebulas DeFi Begins!
Thank you to all who participated in the beta testing and submitted suggestions. If you find an issue, please be sure to reach out via the contact methods below.
To support Nebulas’ extensive platforms, the following products have updated to support link.nextDAO, swap.nextDAO and the new assets:
- Nebulas Explorer (explorer.nebulas.io)
- NAS nano Pro (Version 2.6.6)
- Chrome Extension Wallet (Version 0.2.7)
For a guide on how to use Nebulas’ DeFi tools, visit https://www.notion.so/nebulas/NextDAO-Cross-chain-Bridge-Decentralized-Swap-Help-Documentation-637a7b9ad2604eeaa43c14713189bfb0
We hope the blockchain community will benefit from these tools and will not only suggest improvements for these tools but expand on them and develop new DeFi tools on Nebulas!